I’m often asked by clients about the difference between registered valuations and market appraisals.
Although they sound similar, there are some very important contrasts – and if you’re selling your home, it’s helpful to know what these are.
Registered valuations are:
- Conducted by a qualified valuer who has undertaken training in this area.
- Delivered in return for a fee.
- Often required for finance or legal reasons.
- Developed considering a number of property features and other house sales in the area.
Market appraisals are:
- Made by a real estate agent / salesperson.
- Often free of charge.
- Acquired by considering location, house sales, property features, knowledge of the area and market demand.
- An estimate of the price range you can expect to achieve.
The primary reason why people enlist a registered valuer is because they are often demanded by financiers or bankers in order to qualify lending.
The main difference between the two services is that market appraisals are conducted by a real estate professional who knows and understands the market demand for your property. A good agent will know how much interest there is in homes like yours and will therefore be able to gauge where it sits in terms of price range in the market right now.
My market appraisals are always free, so if you’re thinking of selling your Nelson property call on me for an obligation free, no pressure, free account of what you could expect to receive for your real estate investment.
Ph: 03 5487705